Valley Healthcare, which is owned by the State-backed Irish Infrastructure Fund (IIF), has acquired two primary healthcare centre sites, in Cork and Kerry, for an undisclosed sum.
The centres in Clonakilty and Listowel brings its portfolio of centres to six. The IIF, which is jointly managed by AMP Capital and Irish Life Investment Managers, established Valley Healthcare last year to invest in primary care centres across Ireland.
Clonakilty and Listowel are the first greenfield sites for the fund. Both sites have planning permission and are ready for construction to begin. The sites will be occupied by the Health Service Executive (HSE), GP practices and other health-related services, when operational.
‘Exciting step’
"The acquisitions are an exciting step in the growth of Valley Healthcare and marks an evolution from our prior acquisitions of operational primary care centres and completed sites. By acquiring construction sites, we are creating new capacity for the HSE and delivering convenient, high-quality health services to new communities," Philip Doyle, IIF principal, said.
The four other centres in the Valley Healthcare portfolio are located in Counties Kerry, Cork, Wicklow and Mayo.
Glencar Healthcare manages the operation and development of Valley Healthcare's facilities. Bringing expertise in healthcare management, it will be responsible for the construction and ongoing management of the new centres.
